Comments on: When An Adjustable Rate Mortgage Isn’t Financial Suicide http://amateurassetallocator.com/2009/11/27/when-an-adjustable-rate-mortgage-isnt-financial-suicide/ Amateur Asset Allocator Fri, 10 Feb 2012 18:16:33 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Hope to Prosper http://amateurassetallocator.com/2009/11/27/when-an-adjustable-rate-mortgage-isnt-financial-suicide/comment-page-1/#comment-6164 Hope to Prosper Tue, 01 Dec 2009 00:33:13 +0000 http://amateurassetallocator.com/?p=2971#comment-6164 Great article. When I bought my house back in '96 I could only qualify for a variable and I wasn't very happy about that. But, it was a good loan with 2.3 index over the 11th district and it didn't have any funky balloons or adjustments. Also, I could afford the worst case scenario. The great news is that the interest rate quickly dropped from 8% down to to low of 4.5% and it has been down below the initial rate for 13 years. Sometimes, it's better to be lucky than smart. Great article.

When I bought my house back in ’96 I could only qualify for a variable and I wasn’t very happy about that. But, it was a good loan with 2.3 index over the 11th district and it didn’t have any funky balloons or adjustments. Also, I could afford the worst case scenario.

The great news is that the interest rate quickly dropped from 8% down to to low of 4.5% and it has been down below the initial rate for 13 years.

Sometimes, it’s better to be lucky than smart.

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